The evolution of news consumption, particularly among the Gen Z demographic, has been marked by a shift towards brevity and immediacy. As the digital age spreads, the attention spans of consumers, especially among the younger generation, have become increasingly limited. Traditional news articles, with their extensive narratives, struggled to align with the fast-paced lifestyle of Gen Z. Recognising this paradigm shift, Azhar Iqubal, along with his co-founders Deepit Purkayastha and Anunay Pandey, set out to bridge the gap between the desire for information and the constraints of time.
Azhar, along with his co-founders, identified this opportunity to cater to the evolving tastes of modern readers. The outcome was Inshorts, a platform that encapsulates news stories in concise 60-word summaries. This transformation, rooted in pragmatism, has positioned Azhar as a visionary in the world of news delivery. However, the inception of Inshorts is interesting. It all started with News in Shorts, a Facebook page delivering succinct 60-word news summaries. This experimentation in brevity resonated with a demographic seeking instant access to news without the commitment of extensive reading. The success of this minimalistic approach laid the foundation for Inshorts, a mobile app launched in 2013.
Azhar’s pragmatic vision was instrumental in steering this venture towards success. Inshorts swiftly gained popularity, becoming India’s highest-rated and #1 English news app, boasting a user base of over 10 million. The app’s design, featuring brief news summaries, addressed the demand for quick and easily digestible content, aligning seamlessly with the preferences of the contemporary audience.
At the core of Inshorts’ success is Azhar’s practical understanding of the evolving dynamics of news consumption. The platform’s commitment to simplicity and speed reflects a rational approach to delivering news tailored to the needs of a generation on the move. Inshorts emerged not as a revolutionary concept but as a sensible solution, adapting to the evolving tastes of news consumers.
Azhar’s leadership is characterised by a grounded approach that focuses on tangible results. The platform’s success is a testament to his ability to translate vision into practical execution. In the fiscal year ending March 2023, Inshorts reported a revenue of ₹181 crore, reflecting a modest 9% increase compared to the previous year. While the growth rate may not be staggering, it underscores the platform’s consistent performance in providing concise news to its user base. Advertising on the app contributed ₹147 crore to the revenue, showcasing the platform’s practical reliance on a stable revenue model.
However, the fiscal report also indicates challenges, with a reported loss of ₹310 crore in FY23. These challenges, including expenses related to support service fees and employee benefits, highlight the rational reality of running a news aggregation platform in a competitive market. Inshorts’ success is not defined by hyperbole but by its ability to address a specific need in the market.
Azhar’s vision extends beyond the digital world, as he was selected as a judge on Shark Tank India in October 2023. This recognition is a nod to his practical acumen in entrepreneurship and adds another layer to his multifaceted role in the business landscape.
In fact, Azhar’s journey with Inshorts reflects a realistic approach to addressing the changing dynamics of news consumption. His vision, while revolutionary in its impact, is rooted in practical solutions to real-world challenges. In a world often characterised by sensationalism, Azhar stands as a visionary, navigating the complexities of the news industry with a focus on tangible results and sustainable growth.
